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<br /> <br /> <br /> <br />GRANT OF PERMANENT EASEMENTS <br />THIS GRANT OF PERMANENT EASEMENTS (this “Grant of Easements”) is made on <br />this ______ day of _________________, 2017, by Pipe Portfolio Owner (Multi) LP, a Delaware <br />limited partnership (“Grantor”) to the City of Elk River, a Minnesota Municipal Corporation, <br />situated in Sherburne County, Minnesota (“Grantee”). <br />RECITALS <br />Grantor is the owner in fee simple of real property located in the County of Sherburne, <br />Minnesota, which is legally described on Exhibit A attached hereto (the “Property”). Grantor <br />has requested that Grantee vacate and convey to Grantor certain existing easements and rights of <br />way on the Property and has agreed to replace those easements and rights of way with a <br />permanent, non-exclusive easements for public utility purposes in, under and upon those portions <br />of the Property legally described on Exhibit B attached hereto. The easements are individually <br />described as “Easement 1,” “Easement 2,” “Easement 3,” “Easement 4,” Easement 5,” <br />“Easement 6,” “Easement 7,” “Easement 8” and collectively referred to herein as “Easements.” <br />NOW, THEREFORE, in consideration of the sum of One Dollar ($1.00) and other good <br />and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by <br />Grantor: <br />1. Vacations – Grantee has approved the vacation of the easements legally described <br />on Exhibit C attached hereto contingent upon Grantor providing this Grant of <br />Easements. <br />2. Quit Claim Deed – Grantee shall deliver to Grantor a quit claim deed and <br />resolution approving the conveyance by Grantee to Grantor of the real property <br />legally described on Exhibit D attached hereto in a timely manner. <br />3. Grant of Easements – Subject to Grantee’s fulfillment of its obligations set forth <br />in Paragraphs 1 and 2 above, Grantor hereby grants to Grantee, its successors and <br />assigns, permanent, non-exclusive easements permitting Grantee the right to <br />install, operate, maintain, repair, remove and replace water, sewer and electric <br />lines, and related facilities (the “Utility Facilities”) under, on or above the surface <br />of those portions of the Property (the “Easement Areas”) legally described on <br />Exhibit B attached hereto, together with the right of reasonable and necessary <br />ingress and egress to and from the Easement Areas in connection with the